BlackRock Eyes AI Infrastructure Boom, Signaling Confidence In 'Picks And Shovels' Firms

Benzinga

BlackRock’s Ben Powell said the AI-infrastructure boom is still accelerating as hyperscalers race to secure chips, power, and data-center capacity. He argued that hardware, energy, and infrastructure suppliers—not model developers—stand to gain the most from this spending surge.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:03BlackRock's Ben Powell said the AI infrastructure boom is still accelerating as hyperscalers race

00:08to outspend one another, according to CNBC. This surge keeps picks and shovels suppliers such as

00:14chip makers, energy producers, and copper wire manufacturers in the strongest position.

00:19He told CNBC that capital expenditure remains intense as tech giants secure long-term chip

00:24supply, electricity, and data center capacity. Powell said major tech firms are only beginning

00:31to tap credit markets for the next phase of AI expansion, and their fear of falling behind

00:36is driving rapid, potentially excessive spending. He added that most of this capital will flow to

00:42hardware, energy, and infrastructure suppliers rather than model developers, positioning those

00:46companies for strong gains. For all things money, visit Benzinga.com.

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